Cairn India has decided to initiate development of its Bhagyam field in Rajasthan. It intends to bore nine wells in Aishwariya and 15 wells in Bhagyam. The venture is a JV between Cairn India (70%) and ONGC (30%).
Cairn had recently revised its estimate of oil blocks in Rajasthan and the potential resource is now pegged at 6.5 billion barrels of oil equivalent. Its resources in Mangala, Bhagyam and Aishwariya (referred to as MBA) have increased from estimates of 3.7 to 4 billion BOE.
In Feb 2010, Cairn pumped out 60,000 T of oil from its Rajasthan fields.
